Nevada Home Loans, Inc.

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Nevada Home Loans, Inc.
4850 W. Flamingo, Suite 45
Las Vegas, Nevada 89103
Office (702) 821.0840
Fax (702) 821.0842
Email: nvhmlns@nevadahomeloan.org


We are a Full Service Mortgage Broker with an Experienced and Professional Staff.

WE PLEDGE TO YOU: OUR CUSTOMERS, BORROWERS AND REALTORS:

CONSISTENCY: In the manner in which we take the loan applications, we order
verifications, appraisals, process our loans, and the manner in which we take to each loan to closing.

COMMUNICATION: "Follow Up and Follow Through." -take the call.

CUSTOMER SERVICE: Maintaining our consistency and communication so that we can provide the best service and pricing options to our customers.

Our Loan Programs

FHA

Features FHA Mortgage offer:

Low down payments
Minimal cash is needed up front
Easy qualifying terms
The FHA Home Loan uses relaxed underwriting criteria to evaluate debt and income. These flexible credit guidelines may enable more applicants to qualify for financing.
Authorization to get help with costs
FHA guidelines allow home buyers to receive some or all of their down payment and loan fees from relatives, in the form of a gift. Certain home sellers may also pay an amount equal to up to 6% of the sales price for closing costs and pre-paid. Call for details.

Best for:

Home buyers who have limited savings and/or moderate incomes or credit history.
First-time home buyers who are concerned about not having enough funds for down payment and closing costs.

FHA Mortgages help home buyers purchase homes with low down payments and flexible qualifying guidelines. These loans are insured by the Federal Housing Administration (FHA), which sets loan limits that vary by area, call for limits in Nevada.

VA

Are you an eligible Veteran?
Do you have limited funds for down payment and closing costs?

Features VA Mortgage offers:

No down payment
Easy qualification with regard to credit and income
Out of pocket expenses can come from a gift

Best for:

Qualified veterans, reservists, active service and their spouses (check with your regional VA office to see if you are eligible)
Eligible borrowers who have limited funds for down payment and closing costs

VA mortgages offer the opportunity to buy a home, with no down payment. These loans are administered by the Department of Veterans Affairs. VA loans are assumable and have more flexible requirements than either FHA or Conventional home loans. Available in fixed-rate option only.

ARMs

Features Adjustable Rate Mortgage Loans offer:

Assist borrowers in obtaining a larger loan amount
This is possible because qualifications are at the lower interest rate.
Save money in the early years
Lower initial interest rate than a traditional fixed-rate loan
Have a variety of adjustment periods
(See Intermediate ARMs )

Best for:

When you need extra borrowing power
Want to save money in the first few years
Plan to move or refinance in a few years
Are purchasing or refinancing at a time when interest rates are comparatively high?

Adjustable-Rate Mortgages (also called ARMs) feature an interest rate that periodically adjusts with changing market rates. ARMs are available in FHA, conforming and jumbo loan amounts. The ARM allows you to take advantage of lower interest rates in a falling rate environment, and you'll benefit from lower monthly payments. The initial interest rate on an ARM is usually lower than the interest rate on a fixed-rate mortgage (FRM). ARM interest rates and the degree to which they fluctuate at the end of every adjustment period, are determined by:

Index: Published economic indices such as U.S. Treasury Securities or London Inter-Bank Offered Rate (LIBOR) that are used to direct the adjustment.

Margin: A fixed percentage (usually two to three percent) that is added to the index at each adjustment period

Rate Cap: Typically the maximum amount your rate can increase or decrease per adjustment period and over the life of the loan. This protects you in case of volatile market swings.

Interest Only Loans
Interest Only Loans allow homeowners the ability to reduce their typical monthly mortgage. Homeowners select a 30-year loan for example, and only the interest is paid for the first 5-10 (depending on the program) years, then principle and interest for the remaining 25 years. If you live in an area where homes are appreciating and would prefer to make a much lower monthly payment then this mortgage plan may be just what you're looking for. This loan also works well for those homeowners who want to pay down their mortgage quick. Loans are available from 100k up to 2 Million.

All programs have "Interest-Only" payment options and can be fixed for up to 10 years!

Control your cash flow with interest only loans. Available in both adjustable and fixed rate forms these loans allow you to have greater purchasing power reduced monthly obligations and many more features not available with the traditional 30 year fixed principal and interest loan. Today's interest rates are at the lowest levels in years. Before rates go higher you may want to consider the benefits of refinancing or securing an interest only loan or interest only home equity line at today's low interest rates.

Payment Option Arms

Payment Option ARMS, give borrowers the ability to have a lower than normal starting payment rate. These loans typically have the option to either pay the Index Portion, Interest Only Portion, Fully 30-year amortized payment amount or the Fully 15-year amortized payment amount options. Rates are as lows most LIBOR indexes*.

These loans are helpful for people that plan on using the monies they save on a monthly basis to create cash flow in other investments, plan on staying in their homes a short time. Payment Option Arms are perfect for borrowers that want to qualify for a home that perhaps they would normally would not.

*Index - The index of an ARM is the financial instrument that the loan is "tied" to, or adjusted to. The most common indices, or, indexes are the 1-Year Treasury Security, LIBOR (London Interbank Offered Rate), Prime, 6-Month Certificate of Deposit (CD) and the 11th District Cost of Funds (COFI). Each of these indices move up or down based on conditions of the financial markets.

Intermediate ARMs

Features Intermediate ARMs offer:

Low introductory rate
Net substantial savings with attractively priced 3/1 and 5/1 ARM options.
Predictable monthly payments
Intermediate ARM options are offered at a low introductory fixed rate that remains fixed for the first three or five years.
Low down payment
Less up-front cash is needed, because Savings Bank have 3/1 or 5/1 ARM options have down payment requirements as low as 5%.

Best for:

Plan to stay in their homes for a limited time.
Need lower initial payments to buy a home they might not otherwise be able to afford.
Are confident their future incomes will rise enough to handle potentially higher monthly payments.

Intermediate ARMs offer the low introductory rate of an adjustable rate mortgage combined with the security of a fixed-rate mortgage for a defined number of years. As a leading residential mortgage lender, we offer intermediate ARMs with down payment options as low as 0% and competitive rates that could help borrowers save thousands of dollars over the life of the loan. Also, the intermediate ARM is available in both conforming and non-conforming loan amounts


NINA
Want to save the time it may take to prove your self-employed income?

Is your income sheltered and difficult to prove?

Features NINA Loan offers:

No income or asset information is required for application.
Credit scores as low as 580 are acceptable with a corresponding increase in the down payment.

Best for:
Self-employed borrowers who want to avoid the time it takes to document income.
Borrowers that have income from non-traditional sources that is difficult to document and verify.
No income questions are asked. No employment history is needed. No bank statements or mutual fund reports to supply. This loan speeds up your approval and truly makes the process easy!

Certain credit standards must be met. Call your Nevada Home Loans loan officer today for details.

Less Than Perfect Credit (Sub-prime Loans)
Features Sub Prime Loans offer:

Assist borrowers in obtaining a loan with credit difficulties
Allows the opportunity for another start
Usually offering the security of a fixed rate loan in the early years

Best for:

Plan to stay in their homes for a limited time.
Recent Bankruptcy, Divorce
Are confident their future credit profile will improve with time to allow for a refinance to more attractive rates.

Borrowers with blemishes on their credit do to bankruptcies, collections, charge offs and recent late payments. This type of loan are interim-mortgage loans to help reestablish credit history as well as allowing to take advantage of Real Estate prices rather than waiting.
Do to the inherent risks, these type of loans offer a higher interest rate, for the early years.

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